July Tax Collections Beat Budget Benchmarks by $56 Million
       State tax collections in July rose 5.5 percent over July 2004 and beat budget benchmarks by $56 million, continuing a trend that left fiscal 2005 revenues more than $1 billion above original benchmarks.
       Collections for the month totaled $1.189 billion. Income tax receipts were up 4.3 percent over last July, withholding collections were up 6.7 percent and sales and use tax receipts were up 6.4 percent for the month. Corporate and business tax collections in July were up $21 million, or 84 percent.
       “While July is not one of our largest collection months, we’re off to a good start,” state revenue commissioner Alan LeBovidge said in a statement. “Collections were strong across the board.” With final fiscal 2005 spending numbers being tabulated, the Legislature has not estimated the size of last year’s budget surplus or how they intend to appropriate those one-time revenues.